香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部份內容而產生或因倚賴 該等內容而引致之任何損失承擔任何責任。 Midea Group Co., Ltd. 美的集團股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：0300） 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條而做出。 茲載列美的集團股份有限公司於深圳證券交易所網站(www.szse.cn)刊登的公告如 下，僅供參閱。 承董事會命 美的集團股份有限公司 董事長、執行董事兼總裁 方洪波先生 香港，2025年11月18日 於本公告日期，董事會成員包括(i)執行董事方洪波先生、王建國先生、顧炎民博 士、管金偉先生及張添博士，(ii)非執行董事趙軍先生，及(iii)獨立非執行董事許 定波博士、肖耿博士、劉俏博士及邱鋰力博士。 证券代码：000333 证券简称：美的集团 公告编号：2025-090 美的集团股份有限公司 关于调整股权激励计划行权价格和回购价格的公告 本公司及董事会全体成员保证信息披露的内容真实、准确 ...

Group 1 - The company, Midea Group, announced a share buyback plan on November 18, 2025, with a total expenditure of RMB 99.9989 million [1] - The buyback will involve repurchasing 1.2866 million A-shares at a price range of RMB 77.01 to 78.61 per share [1]

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 呈交日期： 2025年11月18日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 | A | | 於香港聯交所上市 | 否 | | | 證券代號 (如上市) | 000333 | 說明 | | A股 (於深圳證券交易所上市) | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | 庫存股份變動 | | | | 事件 | | 已發行股份（不包括庫存股份）數 目 | | 佔有關事 ...

Core Points - The stock price of Haixia Innovation has increased by 185.89% from October 27 to November 17, prompting the company to conduct an investigation into the trading fluctuations to protect investor interests [1][3] - The company has applied for a trading suspension starting November 18, with an expected duration of no more than three trading days, pending the completion of the investigation [1][3] - The company's operational status remains normal, with no significant changes in the internal or external business environment [1][3] Summary by Sections Stock Trading Fluctuations - Haixia Innovation's stock price experienced a cumulative deviation of over 30% in closing prices over two consecutive trading days (November 14 and November 17), triggering the abnormal trading conditions as per Shenzhen Stock Exchange regulations [3] Company Verification and Findings - The board of directors has verified that there are no corrections or supplements needed for previously disclosed information [3] - There have been no significant undisclosed matters that could impact the stock price, and no major issues are currently in the planning stage [3] - The company confirms that both it and its controlling shareholders have no undisclosed significant matters [3]

Core Insights - The article highlights the top and bottom AH share premium rates, indicating significant discrepancies in market valuations between H-shares and A-shares for various companies [1][2][3]. Group 1: Top AH Share Premium Rates - Northeast Electric (00042) leads with a premium rate of 815.25%, followed by Hongye Futures (03678) at 277.62% and Sinopec Oilfield Service (01033) at 276.83% [1][2]. - The premium rates for the top three companies indicate a strong market preference for their H-shares compared to A-shares [2]. Group 2: Bottom AH Share Premium Rates - Contemporary Amperex Technology (03750) has the lowest premium rate at -7.20%, with China Merchants Bank (03968) at -0.80% and Heng Rui Medicine (01276) at 4.11% [1][3]. - The negative premium for Contemporary Amperex Technology suggests a potential undervaluation of its H-shares relative to A-shares [3]. Group 3: Premium Deviation Values - Zhongwei New Materials (02579) has the highest deviation value at 77.12%, indicating a significant difference from its historical average premium rate [1][4]. - The lowest deviation values are seen in Northeast Electric (00042) at -22.71%, suggesting a consistent underperformance compared to its historical premium [1][5].

Core Viewpoint - Midea Group's stock price increased by 3.95%, currently trading at HKD 89.50, with a transaction volume of HKD 228 million, following the announcement of its performance for the first three quarters of 2025 [1] Financial Performance - Midea Group reported a revenue of approximately CNY 363.06 billion for the first three quarters of 2025, representing a year-on-year growth of 13.82% [1] - The net profit attributable to shareholders was approximately CNY 37.88 billion, showing a year-on-year increase of 19.51% [1] - Basic earnings per share stood at CNY 4.98 [1] Business Segments - Revenue from To C and To B businesses grew by 13% and 18% year-on-year, respectively [1] - Within the B-end sectors, revenue from new energy and industrial technology, smart building technology, and robotics and automation increased by 21%, 25%, and 9% year-on-year, respectively [1] - The demand in the home appliance sector has shown signs of decline [1]

Core Viewpoint - Midea Group reported strong financial performance for the first three quarters of 2025, with significant year-on-year growth in both revenue and net profit, indicating robust business momentum and potential for future growth [1][2] Financial Performance - Revenue for the first three quarters of 2025 reached approximately 363.06 billion yuan, representing a year-on-year increase of 13.82% [1] - Net profit attributable to shareholders was around 37.88 billion yuan, showing a year-on-year growth of 19.51% [1] - Basic earnings per share stood at 4.98 yuan [1] Business Segments - The ToB (Business-to-Business) segment saw a revenue increase of 20% year-on-year, accounting for 45% of overseas business revenue [1] - ToC (Business-to-Consumer) revenue grew by 13% year-on-year, while ToB revenue increased by 18% year-on-year [2] - Key B-end industries such as new energy and industrial technology, smart building technology, and robotics and automation experienced year-on-year growth rates of 21%, 25%, and 9% respectively [2] Market Dynamics - The company is focusing on expanding its OBM (Own Brand Manufacturing) business, which has surpassed 45% of overseas revenue [2] - The domestic air conditioning retail price increased by 6% year-on-year, indicating a recovery in pricing after a competitive phase [2] - The company is leveraging its diversified business layout to create multiple growth curves amid a slowdown in the home appliance sector [2]

Core Viewpoint - Midea Group's stock price increased by over 4%, reaching 89.55 HKD with a trading volume of 221 million HKD [1] Group 1 - Midea Group's stock rose by 4.01% as of the report time [1] - The current stock price is 89.55 HKD [1] - The trading volume amounted to 2.21 billion HKD [1]

Group 1 - The core viewpoint of the article highlights a significant increase in Hong Kong's home appliance stocks, with TCL Electronics rising by 4%, Midea Group by 3.8%, Hisense Home Appliances by 3.5%, Haier Smart Home by 2.5%, Skyworth Group by 2%, and JS Global Lifestyle by 1% [1] - JD.com reported strong sales data for its Double 11 event, with the 3C digital category, major appliances, and small appliances leading online sales in the industry. Daily necessities saw a year-on-year growth rate of 36%, while the apparel category experienced a 30% year-on-year growth [1] - CITIC Securities' investment strategy outlook for home appliances in 2026 indicates that the sector may face challenges in 2025 due to tariff increases, fluctuations in the trade-in policy, and high baseline expectations in the second half of the year, leading to an overall underperformance compared to the CSI 300 index [1] Group 2 - The long-term perspective emphasizes that the competitiveness of companies will ultimately return to the essence of product innovation and efficiency advantages. From an investment viewpoint, two main lines are identified: overseas expansion as the most important source of growth and the benefits of transformation [1]

Core Insights - Midea Group's stock rose over 4% following the announcement of its Q1-Q3 2025 performance, with revenue reaching approximately 363.06 billion yuan, a year-on-year increase of 13.82%, and net profit of about 37.88 billion yuan, up 19.51% [1][2] - The company maintains a positive outlook due to its first-mover advantage in ToB (business-to-business) operations and strong growth potential in overseas markets [1] - The OBM (original brand manufacturer) revenue grew by 20% year-on-year, accounting for 45% of overseas business revenue, with expectations of a 15% growth in 2026 [1] Financial Performance - For Q1-Q3 2025, Midea's ToC (business-to-consumer) and ToB revenues increased by 13% and 18% respectively [2] - The B-end industries, including new energy and industrial technology, smart building technology, and robotics and automation, saw year-on-year growth rates of 21%, 25%, and 9% respectively [2] - The average retail price of air conditioners in the domestic market increased by 6% year-on-year, indicating a recovery in pricing after a competitive phase [2] Business Strategy - Midea's diversified layout has supported its performance during a downturn in the home appliance sector, creating multiple growth trajectories [2] - The company is focusing on expanding its overseas market presence with its own brands, with OBM business accounting for over 45% of its overseas revenue [2] - The growth of ToB business is expected to outpace ToC business, driven by the expansion of AI-supported energy and robotics solutions, as well as increased attention to high-growth sectors like advanced manufacturing and data centers [1]